Friday, September 6, 2013

Choppy Day

Today was almost the opposite from yesterday. A humongous range between high and low, due to NFP-numbers, but mostly thanks to Putin-comments related to Syria (of course).

After a big dip early in the session, buyers stepped in again to bring us above the high of the day and even to new highs for the week. The close was weak, but still close to breakeven on all major indices. Overall not a bad week, but we need a close above last week's highs to get momentum going in this bounce. Cause that's all it is right now, just a bounce.

5-chart SPY:

Daily charts DIA, SPY, QQQ and IWM:

Euro, oil, metals
The euro bounced nicely on 1.31 and is closing in on the 1.32-level.
Oil had another great day, gaining almost 2% and trading above $110!
Metals also did great again. Copper gained 0.4%, gold was up 1.4% and silver even 2.7%.

Have a great weekend!

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